Date: August 2022

The Hsinchu District Court found Hsu Chu-tsai and his wife Yang Liang-liang guilty of financial crimes for fraudulent carbon credits trading, defrauding over 70 investors. They were convicted and handed jail sentences of 8 years and 4 years respectively. Authorities confiscated the profits and fined the company 25 million Taiwan dollars (about US$ 800K).

The couple established their company, Rich Alliance Good Health Co, in 2016 to market equipment for renewable energy and pollution control. In 2019 they started to promote carbon credit trading promising investors lucrative financial returns.

In the ruling, the judge stated: “The couple lured people to invest by false promises of high rates of return from the carbon credit trading scheme. Many investors lost their savings and incurred huge financial losses. It also resulted in damage to Taiwan’s financial system and its regulation”.